Indonesian Stock Movers: Multistrada Arah Sarana, Vale Indonesia
The Jakarta Composite Index (JCI) rose 0.3 percent to 4,157.37.
PT Bank Mandiri (BMRI) , Indonesia’s largest bank by assets, advanced 1.4 percent to 7,050 rupiah. PT Timah, Indonesia’s biggest tin producer, got a 3 trillion rupiah ($327 million) loan from a group of foreign and local banks led by Mandiri and PT Bank Rakyat Indonesia, Bisnis Indonesia reported, citing Timah President Director Wachid Usman. Timah Corporate Secretary Abrun Abubakar couldn’t be reached when called at his office.
PT Multistrada Arah Sarana (MASA) , a tire manufacturer, rose 1.8 percent to 580 rupiah, the steepest increase since March 29. Multistrada plans to build a factory in Kazakhstan next year with an annual capacity of 3 million tires, Kontan reported, citing Corporate Secretary Even Go. The Kazakhstan government and the country’s state-owned Samruk Kazyna Invest will provide the funding, the report said. Go couldn’t be reached when called at the office.
PT Vale Indonesia (INCO) , the nation’s biggest nickel mining company, retreated 1.6 percent to 3,125 rupiah. Nickel futures slumped 4.4 percent to $17,505 a metric ton in London yesterday, the sharpest drop since Dec. 14.
To contact the reporter on this story: Berni Moestafa in Jakarta at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org